19. Authorisation of withdrawals
Feedback & supportLast amended by an amending law of 2025.
Where a withdrawal from any Retirement Account or SAVER Account (as the case may be) and Savings Account (if any) in the SAVER-Premium Fund has been authorised in favour of any person under regulation 14A or 17AC (as the case may be), 17A or 18, the Board shall —
on the written instruction of that person, credit the amount authorised to be withdrawn to his bank account; or
open a savings account with a bank in the name of that person and credit the amount authorised to be withdrawn to the said bank account.
Payment may also be made by the Board in such other manner as the Board shall see fit in any particular case or class of cases.
Subregulation 1
Where a withdrawal from any Retirement Account or SAVER Account (as the case may be) and Savings Account (if any) in the SAVER-Premium Fund has been authorised in favour of any person under regulation 14A or 17AC (as the case may be), 17A or 18, the Board shall —
on the written instruction of that person, credit the amount authorised to be withdrawn to his bank account; or
open a savings account with a bank in the name of that person and credit the amount authorised to be withdrawn to the said bank account.
Subregulation 2
Payment may also be made by the Board in such other manner as the Board shall see fit in any particular case or class of cases.